100 Main StMiddletown, CT 06457

Property Details for 100 Main St

Year built

1977

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.82 AC

Property size (Sq ft)

14,334 SF

Zone code

B-1

Property type

Showrooms

APN

MTWN M:24 L:0274

APU

MTWNM24L0274

Description

This exceptional investment opportunity presents a fee-simple interest in a 14,000 square foot, three-tenant medical and retail building situated in Middletown, Connecticut. The property boasts a 100% occupancy rate, anchored by DaVita Dialysis, a leading kidney care provider, occupying 12,000 square feet and holding a significant lease term. Two additional tenants, Edible Arrangements and Abyssinian Food, complement the property's diverse tenant mix. Built in 1960 and renovated in 2009, the single-building property sits on a 0.82-acre lot. The Net Lease (NNN) structure minimizes landlord responsibilities, offering a passive investment with a current NOI of $296,396 and a 7.20% cap rate. The asking price is $4,116,600. All tenants have 2% annual rent bumps built into their leases, and lease options are available. The weighted average lease term (WALT) is 5.4 years, providing long-term stability and predictable cash flow. The property benefits from its high-visibility location off US Highway 9, serving a strong demographic area with an average household income of $118,259 within a 5-mile radius. This offering presents a compelling investment in a stable, growing industry within a desirable Connecticut market.

• CAP approach

  CAP return

  Valuation

  6%

  $3,483,662

  6.5%

  $3,215,688

  7%

  $2,985,996

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,719,658

  Geo Method

  $4,719,658

• Alternative Use

  Use

  Valuation

  Residential

  $2,712,554

  Hospitality

  $2,484,684

  Educational

  $2,067,228

  Medical

  $2,138,324

  Retail

  $3,215,688

Location Insight

City

Middletown

County

Middlesex

State

Connecticut

Latitude

41.5581

Longitude

-72.6474

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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